Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Sep. 30, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Current assets:          
Cash and cash equivalents $ 12,448 $ 6,667 $ 38,990    
Restricted cash 1,465 1,465 0    
Accounts receivable, net 25,207 24,621 22,337    
Inventories, net 56,465 91,373 77,183    
Prepaid expenses and other current assets 12,153 13,959 6,783    
Total current assets 107,738 138,085 145,293    
Property, plant and equipment, net 68,326 64,883 59,451    
Operating lease, right-of-use asset 36,214 35,963 20,050    
Identifiable intangibles, net 418 382 225    
Other 23,080 313 315    
Total assets 235,776 239,626 225,334    
Current liabilities:          
Accounts payable 33,564 26,128 12,429    
Accrued liabilities 34,911 33,437 36,660    
Deferred revenue and gift card liability 11,030 10,160 9,505 $ 7,334 $ 4,615
Current maturities of long-term debt, net 2,297 1,896 2,143    
Current operating lease liability 2,249 2,402 1,360    
Current maturities of finance lease obligations 58 82 95    
Total current liabilities 84,109 74,105 62,192    
Non-current liabilities:          
Long-term debt, net 68,683 70,094 47,017    
Finance lease obligations, net of current maturities 23 99 221    
Operating lease liability 35,929 35,252 19,466    
Other non-current liabilities 524 623 502    
Total non-current liabilities 105,159 106,068 67,206    
Total liabilities 189,268 180,173 129,398    
Commitments and Contingencies (Note 18)    
Stockholders’ equity/members’ deficit:          
Preferred Stock, $0.0001 par value, 1,000,000 shares authorized; no shares issued or outstanding 0 0 0    
Additional paid in capital 133,728 137,457 129,508    
Accumulated deficit (120,478) (115,993) (103,733)    
Total BRC Inc.’s stockholders’ equity 13,271 21,485 25,796    
Non-controlling interests 33,237 37,968 70,140    
Total stockholders’ equity 46,508 59,453 95,936 $ (149,491) $ (102,878)
Total liabilities and stockholders' equity 235,776 239,626 225,334    
Class A Common Stock          
Stockholders’ equity/members’ deficit:          
Common stock 6 5 5    
Class B Common Stock          
Stockholders’ equity/members’ deficit:          
Common stock 15 16 16    
Class C Common Stock          
Stockholders’ equity/members’ deficit:          
Common stock $ 0 $ 0 $ 0